Wildberries has bought major tour operator Fun&Sun for $200 million

Wildberries & Russ has acquired tour operator Fun&Sun from Alexei Mordashov’s Severgroup. The deal is valued at about $200 million and opens the way for the marketplace to enter the travel services market, where Ozon and Yandex are already operating.

Wildberries & Russ has acquired Fun& Sun from Alexei Mordashov’s Severgroup.

Wildberries enters the travel market

Wildberries &Russ (RVB LLC) has bought one of the largest Russian tour operators Fun&Sun from Severgroup structures. This was reported by Izvestia sources close to both parties. According to them, the deal has already been closed.

Fun&Sun (TUI Russia until 2022) was founded in 2009 on the basis of VKO Group and Mostravel as a joint venture between Severgroup and TUI Group. The company unites about 12 thousand travel agents, including franchise network. According to Turpomoshcha, the tour operator is among the top three industry leaders in terms of contributions to the personal liability fund.

In 2024, revenue at legal entity TT Travel (Fun&Sun brand) totaled 104.4 billion rubles – up 46% from a year earlier. Net profit rose to 4.9 billion rubles, compared to a loss of 6.6 billion in 2023.

Sources estimate the deal’s value at 15-16 billion rubles (about $200 million). Taking into account the company’s debt load is estimated at 50-60 billion rubles.

At the same time, the company’s debt load is estimated at 50-60 billion rubles.

What is known about the buyer

RWB was created in 2024 as a joint venture between Wildberries (65%) and Russ Group (35%). The company combines marketplace, logistics and advertising technologies into a single ecosystem. At the end of 2024, the structure’s turnover in e-commerce exceeded RUB 4 trillion (+60% by 2023), with net profit of RUB 104 billion.

According to the results of the joint venture, the company’s turnover in e-commerce exceeded RUB 4 trillion (+60% by 2023).

In July 2025, RVB registered a subsidiary, RVB Travel, to operate in the travel market. Its activities cover tour operator and agency services, reservations and excursion programs.

How Wildberries buying Fun&Sun fits into the strategy

The combined company has been aggressively expanding its assets in recent months. In September, it acquired Magas airport in Ingushetia, in October it pledged 100% of the operating company of the Rive Gauche chain and entered into the privatization of Uzbek postal operator UzPost.

The purchase of Fun&Sun fits into the trend of travel market consolidation. Earlier, Yandex Travel acquired Akadem-Online, and Avito Travel partnered with Aeroklub.

According to Mikhail Burmistrov, CEO of INFOLine-Analytics, Wildberries’ entry into tourism is logical: the company already has an audience interested in traveling. The use of anonymized user data will make it possible to form personalized offers using look-alike technology, added Ivan Peshkov, head of M&A department at BGP Capital.

By using anonymized user data, Wildberries will be able to create personalized offers using look-alike technology.

In addition, the development of the tour business will strengthen the position of Wildberries Bank, which will be able to lend to customers to buy tours.

What’s in store for the market

Experts believe Wildberries’ pricing policy can temporarily make tours more affordable, but for Fun&Sun franchisees, it could mean lower margins.